Market research in Gabon
From the extensive petroleum industry to the hardwood or growing tourism industry, Gabon presents an amazing potential to develop your business.
The government, given the economic dependency on the oil industry, is looking to diversify its economy. As such, efforts are being made to develop other sectors. Some measures include facilitating foreign investment to attract FDI, as well as improvements to guidelines and regulations to improve transparency and investor confidence.
Gabon, located in Central Africa, with a western coast on the Atlantic Ocean. The country is sparsely populated among very rich rainforest and mineral rich earth. The country has vast petroleum reserves, allowing for a prosperous economy. Gabon’s income per capita is 4 times higher than most sub-Saharan countries. Gabon, until the 1970s, relied on exports of timber before the discovery of oil reserves in its waters. In the past decade, oil exports accounted for 80% of exports, and 45% of GDP.
However, as most resource dependant countries, Gabon has been heavily reliant on oil prices and production to fuel growth. Heightened prices in the 2000s allowed for sustained growth of around 6% a year. However, declining production as oil fields passed peak production meant lost potential.
Why conduct market research
Apart from its oil production, Gabon is a major global player in hardwood production, a renewable resource in high demand globally. This sector is also poised for growth as improved infrastructure allows for higher production and exports. Tourism is underdeveloped in the country, but has a great potential for growth, with sights from beaches to mountains and national parks.
Representative market data
However, despite the opportunities in Gabon, there remain some challenges that make successful development more complicated. High rates of poverty, income inequality and corruption present important hurdles. These factors make effective market research difficult and costly. However, at Sagaci Research, we are able to provide you with an array of high-quality products to truly grasp the essence of the Gabon market. Here are some of our offerings:
Market research methods in Gabon
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